Residential Property Price Index 2010-2023
South Africa, 2010 - 2023
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Reference ID
zaf-statssa-rppi-2010-2023-v1
Producer(s)
Statistics South Africa,
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Metadata
Created on
Dec 12, 2023
Last modified
Dec 12, 2023
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6474
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Identification
Survey ID Number
zaf-statssa-rppi-2010-2023-v1
Title
Residential Property Price Index 2010-2023
Country
| Name | Country code |
|---|---|
| South Africa | zaf |
Study type
Price Survey
Abstract
The Residential Property Price Index (RPPI) for South Africa was compiled by Statistics South Africa in partnership with the South African Reserve Bank and with the support of the International Monetary Fund. The source data for the RPPI are the records of property transactions registered with the Office of the Chief Registrar of Deeds (Deeds office). The RPPI is compiled using internationally accepted methods as outlined in Eurostat's Handbook on Residential Property Price Indices and the IMF's Residential Property Price Index Practical Compilation Guide. These documents are provided with the data. The indices are calculated using a rolling window time dummy hedonic regression model. The purpose of RPPIs is to measure changes in the price of residential properties, such as houses, townhouses and flats, purchased by households. Both new and existing dwellings are covered, independently of their final use and their previous owners. Only market prices are considered, including the price of the land on which residential buildings are located.
Kind of Data
Administrative records
Unit of Analysis
Other
Version
Version Description
v1: Edited data for public distribution
Version Date
2023
Scope
Notes
The Deeds office data is an administrative record of all property transactions in South Africa. Among other things, it includes information about the price of the property, the type of property, the type of buyer and seller, and a unique property identifier code.
Producers and sponsors
Primary investigators
| Name | Affiliation |
|---|---|
| Statistics South Africa | South African Government |
| South African Government |
Producers
| Name |
|---|
| International Monetary Fund |
Funding Agency/Sponsor
| Name | Abbreviation | Role |
|---|---|---|
| South African Reserve Bank | SARB | Funding Agency |
Sampling
Weighting
Stats SA publishes the RPPI at two levels of detail. Firstly, RPPIs for each province are aggregated to the 'national' RPPI. Secondly, the RPPIs for each of the eight metropolitan municipalities are aggregated to the 'all metropolitan areas' RPPI. Elementary indices are calculated for each metropolitan area and for the larger municipalities in each province. The hedonic model performs better if there are a large number of transactions available. Because there are fewer transactions each month for the non-metropolitan municipalities, their indices are not published.
The total sales value for any year can be calculated from the Deeds office data and this is used to aggregate the indices from the elementary level upwards. Aggregated indices for each year are weighted according to the total sales value of two years prior. For example, the results for 2022 are weighted based on the sales value of 2020, the results for 2021 are weighted based on the sales values of 2019, and so on. Weights will be updated annually with effect from the January RPPI each year.
The total sales value for any year can be calculated from the Deeds office data and this is used to aggregate the indices from the elementary level upwards. Aggregated indices for each year are weighted according to the total sales value of two years prior. For example, the results for 2022 are weighted based on the sales value of 2020, the results for 2021 are weighted based on the sales values of 2019, and so on. Weights will be updated annually with effect from the January RPPI each year.
Data Collection
Dates of Data Collection
| Start | End |
|---|---|
| 2010 | 2023 |
Data Collection Mode
Other
Data Collection Notes
Records of property transactions registered with the Office of the Chief Registrar of Deeds (Deeds office) are the source data for the index.
Access policy
Contacts
| Name | Affiliation | URL | |
|---|---|---|---|
| DataFirst Support | University of Cape Town | support@data1st.org | www.support.data1st.org |
Access conditions
Public access data for use under a Creative Commons CC-BY (Attribution-only) License
Citation requirements
Statistics South Africa. Residential Property Price Index 2010-2023 [dataset]. Version 1. Pretoria: Statistics SA [producer], 2023. Cape Town: DataFirst [distributor], 2023. DOIi: https://doi.org/10.25828/VQ6V-2T85
Access authority
| Name | Affiliation | URL | |
|---|---|---|---|
| DataFirst | University of Cape Town | support@data1st.org | support.data1st.org |
Metadata production
Producers
| Name | Affiliation | Role |
|---|---|---|
| DataFirst | University of Cape Town | Metadata producer |
Date of Metadata Production
2023-12-12
DDI Document version
Version 1